The democracy will cease to exist when you take away from those who are willing to work and give to those who would not. To compel a man to furnish funds for the propagation of ideas he disbelieves and abhors is sinful and tyrannical.
~ Thomas Jefferson
Joe Biden, the America Last president, compromised by the Chinese Communists, agreed to a 15% minimum global tax and favored exemptions for China. Certain Biden-friendly corporations were exempt. He couldn’t get it through Congress, so he made an agreement with the G7 in 2021.
Janet Yellen, who pushed it, said the tax would eventually go much higher than 15%.
China and the other so-called developing nations were licking their lips.
The goal is allegedly to keep companies from moving to countries with lower tax rates. The problem is that this inefficient form of taxation will be passed down to consumers and employees. It incentivizes countries outside the G7 to offer even better tax rates.
It’s a globalist, American last trading policy.
The agreement was reached with the G7 in 2021 and never passed by Congress.
It eliminated voting for tax reform. With it went job growth, and endless government growth came in with an entrée into global government. Multinational American companies were hurt since foreign governments could tax them at higher rates. It was their unfair way of leveling the playing field.
Trump considered that in his Executive Orders. He declared that the global tax deal “has no force or effect” in the U.S. and withdrew America from the agreement.
The idea was to eventually expand the tax beyond trade and into every woke idea the UN and their philosophers at the WEF could develop.
The EU is very troubled by this. They had plans to do good with the money. We somehow are depriving the poor.
President Trump also ordered the U.S. Treasury to explore “protective measures” against countries with tax policies that could unfairly disadvantage American companies.
This is in keeping with the tariffs and how he plans to use them. He is using them as leverage instead of selling us out.
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